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Total E&P Australia, a subsidiary of French oil and gas company Total S.A., has recommitted its presence at the A-grade building, signing a new lease on 1,837sqm across two full floors to accommodate its Australian headquarters.

As part of the new lease agreement, Glentham Pty Ltd, the building owner, is undertaking extensive upgrades to the 16,000 sqm building at 28 The Esplanade. This includes refurbishment and improvements to conference facilities, plaza, ground floor lobby area and the building lifts, including a Destination Control System.

Leading interior designers IA Group and the building architects John Mckenzie & Associates are coordinating the works.

Total E & P is also upgrading its existing fitout.

CBRE Senior Director, Office Services, Andrew Denny said conditions were currently at their best for tenants.

“As evidenced by this recent BGC Centre deal, tenants are taking advantage of favourable conditions to renegotiate attractive terms and secure the best option for their business,” Mr Denny said.

The BGC Centre is a 20 level office tower with sweeping views of the Swan River, and is immediately adjacent the Elizabeth Quay development. The building currently has an occupancy rate of 87%.

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About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.​